Reported 8 months ago
A recent survey conducted by the German Chamber of Commerce in China on 186 German enterprises revealed that 61% of the respondents identified 'price pressure' as the biggest competitive challenge they are facing in China. The report highlighted concerns related to softening demand associated with China's economic slowdown and geopolitical tensions. The automotive sector accounted for 21% of the surveyed enterprises, with China being the world's largest automotive market. The rise of electric vehicle brands in China, supported by government subsidies, has intensified competition among manufacturers and impacted profitability. The European Commission's investigation into alleged unfair subsidies benefiting the Chinese electric vehicle industry has led to proposed temporary tariffs on imported Chinese electric vehicles. German Minister of Economic Affairs Robert Habeck is scheduled to visit China next week to discuss economic relations, with temporary tariff measures slated for implementation from July 4 if issues remain unresolved.
Source: YAHOO